Rockwood completes $1.96B CeramTec sale

By September 5, 2013 at 10:13 AM

Princeton-based specialty chemicals company Rockwood Holdings Inc. announced Wednesday it has completed its sale of German ceramics producer CeramTec to European private equity firm Cinven for € 1.49 billion ($1.96 billion).

According to the announcement, Rockwood received net cash proceeds of $1.75 billion. The company will use a portion of the net proceeds to pay off term debt, CEO Seifi Ghasemi said in a statement.